LYV - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Live Nation Bausch and Applied Digital and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Live Nation Entertainment, Inc. (NYSE:LYV), Bausch Health Companies, Inc. (NYSE:BHC), and Applied Digital Corporation (NASDAQ:APLD). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Live Nation Entertainment, Inc. (NYSE:LYV)
Class Period: February 23, 2022 – July 28, 2023
Lead Plaintiff Deadline: October 3, 2023
On November 18, 2022, The New York Times reported that the DOJ had opened an antitrust investigation into Ticketmaster and Live Nation after the ticketing platform's systems crashed during a highly-anticipated presale for Taylor Swift tickets. The ensuing chaos of disappointed "Swifties" highlighted Live Nation's power over the live music industry, exacerbating complaints that the Company has "constrained competition and harmed consumers."
On this news, Live Nation's stock price fell $5.64, or 7.8%, to close at $66.21 per share on November 18, 2022, on unusually heavy trading volume.
Then, on February 23, 2023 at 3:30pm Eastern time, NPR reported that, following Congressional hearings, the Senate Judiciary Subcommittee on Competition Policy, Antitrust, and Consumer Rights wrote to the DOJ, presenting evidence that "Live Nation is harming America's music industry." The letter cited issues with Live Nation's pricing models and fees, increasingly long contracts with competitors, and retaliatory behavior against artists and venues that don't want to work with it. The senators "encourage[d]" the DOJ to take action if it found Live Nation had "walled itself off from competitive pressure at the expense of the industry and fans."
On this news, Live Nation's stock price fell $7.71, or 10.1%, to ...